American Electric Power Company, Inc. (NASDAQ:AEP) Position Trimmed by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its stake in American Electric Power by 16.1%, selling 11,554 shares and holding 60,097 shares valued at $6,567,000 at the end of the first quarter.
• The company reported earnings of $1.43 EPS for the quarter, exceeding analysts' expectations of $1.27, with revenues of $5.09 billion, up 11.1% year-over-year.
• American Electric Power announced a quarterly dividend of $0.93, with an annualized amount of $3.72 and a dividend yield of 3.3%.

iA Global Asset Management Inc. decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 16.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,097 shares of the company's stock after selling 11,554 shares during the quarter. iA Global Asset Management Inc.'s holdings in American Electric Power were worth $6,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarius Group LLC raised its holdings in shares of American Electric Power by 2.5% during the first quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after purchasing an additional 95 shares during the period. Safeguard Investment Advisory Group LLC boosted its holdings in shares of American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock valued at $223,000 after buying an additional 100 shares during the period. Marcum Wealth LLC grew its position in shares of American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock valued at $379,000 after buying an additional 101 shares during the last quarter. Ascent Group LLC grew its position in shares of American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock valued at $2,572,000 after buying an additional 102 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its stake in American Electric Power by 2.3% during the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company's stock worth $418,000 after acquiring an additional 103 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the completion of the sale, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

American Electric Power Stock Performance

Shares of AEP traded down $1.23 during trading hours on Friday, reaching $112.50. 2,706,902 shares of the company's stock traded hands, compared to its average volume of 3,661,537. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $115.36. The business's fifty day simple moving average is $105.70 and its two-hundred day simple moving average is $104.53. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The firm has a market capitalization of $60.16 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 3.02 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. American Electric Power's revenue was up 11.1% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's payout ratio is presently 54.39%.

Wall Street Analyst Weigh In

AEP has been the subject of a number of research reports. BMO Capital Markets lifted their target price on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Morgan Stanley cut their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. UBS Group boosted their price objective on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Barclays increased their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Mizuho set a $116.00 target price on American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $111.29.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.